Vecchione Kenneth 4

What Happened
Kenneth Vecchione, President & CEO and Director of Western Alliance Bancorporation (WAL), reported multiple transactions on 2026-02-15. He received a grant of 17,366 units (cash-settled, economic equivalent of shares) and exercised/converted derivatives that resulted in share issuances that were largely surrendered to the issuer to satisfy tax and exercise obligations. The filing shows shares surrendered at $93.20 per share totaling $693,594 (7,442 shares) plus two additional issuer dispositions of 539 shares ($50,235) and 437 shares ($40,728). Combined, about $784,557 of shares were relinquished to cover taxes/exercise. The 17,366 units are cash‑settled awards (no stock purchased in the open market).

Key Details

• Transaction date(s): Reported activity occurred on 2026-02-15; Form 4 filed 2026-02-18.
• Prices and values: Shares surrendered at $93.20 per share; total value surrendered ≈ $784,557 (breakdown: $693,594 + $50,235 + $40,728). Awarded units recorded at $0 (cash-settled units).
• Specific actions: Grant/award of 17,366 units (cash‑settled); exercises/conversions of derivatives recorded (539 and 437 shares) with corresponding surrender/disposition to issuer; 7,442 shares surrendered to pay tax/exercise liability.
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • F1/F3: Units vest and are payable solely in cash monthly over 36‑month schedules (one starting March 2024 ending Feb 2027; the other starting March 2025 ending Feb 2028).
  • F2: Each unit equals the economic equivalent of one share of WAL common stock.
  • F4: Reflects shares held in 401(k), including employer match, as of 2/5/2026.
• No 10b5‑1 plan or late‑filing notation indicated in the provided filing data.

Context
This filing shows internal exercises/conversions and cash‑settled awards rather than open‑market purchases or sales. The pattern — exercising or converting derivatives and immediately surrendering shares to the issuer to cover tax withholding or exercise price — is a common cashless/tax‑withholding settlement and does not represent a market sale. Derivative entries with no per‑share price reported (N/A) reflect conversion/cancellation mechanics in the filing; they do not necessarily indicate a separate open‑market disposition.